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Next Resistance Level for Marathon Oil (MRO) is $17.70

By James Quinn

Shares of Marathon Oil (NYSE:MRO) have bullishly opened above the pivot of $17.44 today and have reached the first resistance level of $17.59. Should the shares continue to rise, the resistance pivots of $17.70 and $17.96 will be of interest.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $12.57 and a high of $24.20 and are now at $17.61, which is 40% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.6%.

Marathon Oil has overhead space with shares priced $17.61, or 21.4% below the average consensus analyst price target of $22.39. The stock should hit resistance at its 200-day moving average (MA) of $18.34, as well as support at its 50-day MA of $16.86.

SmarTrend is tracking the current trend status for Marathon Oil and will alert subscribers who have MRO in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts Marathon Oil

Ticker(s): MRO